Wall Street’s key stock indices edged higher on Tuesday as renewed artificial intelligence optimism and strong corporate earnings bolstered market sentiments.
At the open, the Dow Jones Industrial Average rose 245.8 points, or 0.50%, to 49,688.37. The S&P 500 rose 13.5 points, or 0.19%, to 7,122.64, while the Nasdaq Composite rose 60.9 points, or 0.25%, to 24,465.339.
“The demand for stocks is there this morning, with market participants clutching to good news over bad and retaining hope that the Iran war won’t have a lasting and negative impact on the global economy,” said Briefing.com analyst Patrick O’Hare.
On the economic data front, US retail sales surged by 1.7% in March from the prior month to $752.1 billion, climbing more than expected due to largely surging gasoline prices.
Key Stock Movers
Apple shares fell 0.8% after the iPhone maker announced that longtime CEO Tim Cook will step down this year and company veteran John Ternus will take over the top job.
Shares of UnitedHealth Group jumped 8.2% and RTX edged up 0.1% after the earnings results.
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